Hilton casino defaults on mortgage payments

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    http://www.nj.com/news/index.ssf/2009/08/atlantic_citys_hilton_casino_d.html

    ATLANTIC CITY -- The Hilton Casino Resort failed to make its monthly loan payments last month due to the recession's impact on Atlantic City's smallest casino, according to a report in the Press of Atlantic City.

    The report said financial statements filed with the New Jersey Casino Control Commission shows the Hilton defaulted on its mortgage. The casino, which the report said was in negotiations to revise the mortgage agreement's terms, had an outstanding debt of $348.2 million, plus $868,000 in accrued interest, as if June 30, the report said.

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